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EDreams Odigeo swings to profit in fiscal Q4

EDreams Odigeo SA said its normalized net income for the fiscal fourth quarter ended March 31 came to €402,500, compared with a loss of €16.6 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 9.2% from negative 13.4% in the year-earlier period.

Total revenue declined on an annual basis to €120.3 million from €124.0 million, and total operating expenses decreased 19.3% from the prior-year period to €107.7 million from €133.5 million.

Reported net income came to a loss of €176.1 million, or a loss of €1.68 per share, compared to a loss of €11.2 million, or a loss of 11 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 10 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11 cents.

EPS was a loss of 4 cents in the prior year.

Normalized net income was €10.3 million, compared with a loss of €3.7 million in the prior year.

Full-year total revenue fell year over year to €465.7 million from €479.9 million, and total operating expenses declined year over year to €403.5 million from €422.3 million.

The company said reported net income totaled a loss of €181.3 million, or a loss of €1.73 per share, in the full year, compared with a loss of €20.4 million, or a loss of 20 cents per share, the prior year.